3:25pm: But before we go, an update on Syrah Resources' price query from the ASX.

The company "notes the media speculation today regarding an informal takeover approach... From time to time Syrah receives informal, confidential and non-binding enquiries from various parties regarding Syrah’s interest in entering takeover discussions. None of these enquiries have progressed to formal discussions or resulted in any indicative offers being received by Syrah."

3:19pm: The Australian Financial Review's Street Talk reports a third bidder has entered the race for Roc Oil, sources said on Thursday afternoon, making an approach to the $400 million company earlier this week.

An announcement will made later today or on Friday morning, the sources added.

3:13pm: Australian shares broke a three day losing streak to move higher as investors shrugged off the news that unemployment has hit a 10-year high and some worse than forecast Chinese trade data.

The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each added 0.2 per cent, on Thursday to 5464.4 points and 5454.3 points respectively. Local shares were bumpy in early trade after opening higher having followed a positive offshore lead.

United States equities closed modestly higher on Wednesday night following the release of minutes from the June meeting of the Federal Reserve that detailed plans to finish tapering its program of quantitative easing in October, provided the US economic recovery stays on track.

Clime Asset Management director John Abernethy highlighted the risks to global equity markets outlined last week in a report from the Bank of International Settlements, known as the central banker’s bank. “There is a threat to financial stability as ultra-low interest rates promote debt accumulation and risk-taking,” Mr Aberthey said.

2:45pm: Here's some original reporting from Bloomberg on just how serious Europe is about including the underground economy in compiling national measures of gross domestic product.

"As the spokesman for the National Association of Sex Clubs in Spain, Jose Roca has fielded all sorts of inquiries. But rarely has he been more flummoxed than when he received a call late last year from the government statistics agency.

In earnest tones, a statistician asked him if he knew the average price of a session with a prostitute in Spain, and the typical cost of a room at a Spanish brothel.

"He even asked stupid questions like how much energy is consumed by a club," recalled Roca, whose Valencia-based group represents hundreds of so-called alternate clubs across Spain.

"I thought it was a joke," he said. "I was so incredulous that I asked them to send me an email to make sure it wasn't."

2:36pm:Tyra Banks has written an op-ed for the Wall Street Journal where she hypothesises on the future of beauty.

Ms Banks says plastic surgery will be as accessible as Tylenol (paracetamol), serums will replace hair extensions and hourglass shapes will be desirable because it coneys affluence. Rear her fierce views here.

12:48pm: With the cost of corporate debt at "the lowest level in a generation", Credit Suisse points to the increasing significance "de-equitisation" will play in supporting future returns in the sharemarket.

Because debt is such an attractive source of capital, companies are not as reliant on the equity market. Indeed, the equity market is on the verge of shrinking.

Australian company free cash-flow forecasts look compelling and combined with the attractive cost of debt, CS anticipates more buybacks in the Australian market. The broker finds that buybacks tend to be followed by outperformance.

11:53am:Qantas Airways is losing domestic and international corporate market share to Virgin Australia Holdings as companies are increasingly fixated on paying the lowest possible airfares, says a new survey of corporate travel managers.

Morgan Stanley’s third annual AlphaWise survey of 214 corporate travel managers with responsibility for travel needs at companies with more than $1 billion of revenue or 1000 employees found Virgin is winning domestic business based on its lower prices.

Morgan Stanley analyst Nicholas Markiewicz said Virgin could therefore emerge as a relative winner from deteriorating business confidence as corporate travel policies increasingly forced customers to prioritise price over other factors.

"One of the nation’s most popular rooster breeds, the Aviagen Group’s standard Ross male, has a man-made genetic flaw that’s crippling its baby-making skills — and contributing to a price spike of up to $US1.50 a pound in New York City, farmers and data reveal."

11:40am:The British government began an informal review on Wednesday of how it pursues initial public offerings of government assets in the wake of questions about whether the Royal Mail offering last year was properly priced, the New York Times reports.

Vince Cable, the British business secretary, said the review would examine the book building process used to assess the interest of investors and explore whether other methods are better suited to future disposal of government assets.

Shares of Royal Mail jumped 38 percent on the first day of trading in October. They closed about 42 percent above its I.P.O. price in London on Wednesday.

11:21am: Here's some analysis on the jobs data from Westpac economist Justin Smirk:

"Hours worked rose 0.9 per cent in June following on from a 2.1 per cent rise in May (revised up from an original estimate of 1.7 per cent). All up hours worked have risen 2.1 per cent in the year to June. Firms may be nervous about employing more staff but they are working their existing staff harder.

"So if you look you can find something in the June labour force survey to fit any current view on the Australian economy. As such, you can argue that the labour market is, at best or worst, holding ground rather than finding a stronger or weaker trend."

10:52am: Remember Zillow, the US online real estate portal James Packer took a slice of? Macquarie has initiated coverage with a outperform rating and a $US164 price target. Zillow last closed at $US133.37.

10:47am: Scrambling to find more ways to shave costs and improve profitability, Germany's national carrier Lufthansa revealed a plan this week to expand its domestic low-cost operations by creating a new, no-frills airline for long-distance flights, possibly to popular leisure destinations in Southeast Asia.

The strategy, part of a series of measures presented by Lufthansa's new chief executive, Carsten Spohr, comes just weeks after the airline sharply reduced its profit forecasts for this year and next, raising concerns that an ambitious cost-cutting drive that began in 2012 could be losing momentum. Other near-term steps include sharp reductions in European capacity next winter, as well as a recently announced joint venture with Air China.

Lufthansa said the new airline would begin operations next year and would probably fly out of Munich, Cologne or Dusseldorf.

"We saw a strong risk of an above-market rise in employment in June reflecting some statistical payback after the fall in employment in May (which, in our view, partly reflected seasonal adjustment difficulties). The ‘payback’, however, was less than we expected so it was, at best, a soft outcome...

"Most forward looking indicators suggest that forthcoming jobs growth should be stronger than the 7K per month recorded in Q2. We expect employment growth to pick up to just shy of 15K per month over the second half of the year and for the unemployment rate to remain around 6 per cent over the next year or so."

9:14am:Goldman Sachs economist Tim Toohey has boldly stuck to his call for a further RBA rate cut as the consensus shifted overwhelmingly to on hold.

In light of new consumer confidence figures, which increased only slightly, Toohey asks how much longer can the RBA afford to wait before it cuts rates?

"Only last week the Governor reminded markets that the RBA "still has plenty of ammunition on interest rates" and appeared to set up the August Statement on Monetary Policy as a key point in the evolution of RBA policy. With consumer sentiment clearly in the RBA's "rate cutting zone", we would not be surprised to see the RBA use the SMP to shift to an easing bias - followed by a subsequent rate cut in September 2014," he says.

8:39am: Australian companies which have expanded offshore to tap growth opportunities are in for significantly better earnings in the years ahead, compared to those which have remained on home soil amid forecasts of weaker domestic conditions.

According to Macquarie's executive director of macro research, Tanya Branwhite, the relatively strong domestic growth in demand enjoyed by Australian companies over the last decade has “come to an end,” and businesses operating in offshore markets will do better because of their access to a larger pool of growth opportunities.

In a research note to investors looking at listed Australian industrial companies with international earnings, the bank found a number of standouts, including health care companies CSL, Sirtex Medical and Sonic Healthcare.

The broker has Navitas on a price/earnings multiple of 20 times 2015 earnings, which is "attractive" and offers a cheap option relative to its chances of winning new contracts in the North American market. Long-term, Citigroup still likes Navitas' exposure to the rising Asia middle-class and future demand for education from this market.

7:22am: The Australian dollar has received a further lift overnight to above US94¢ after its US counterpart was sharply sold off in response to a warning by the world’s biggest central bank that investors are becoming complacent about low volatility in financial markets and taking on too much risk.

The minutes of the US Federal Open Market Committee (FOMC) meeting in June revealed that the reserve members would “carefully monitor financial conditions” and where appropriate, would “supervisory measures” should be applied to “address excessive risk-taking and associated financial imbalances”.

The Australian dollar has remained elevated for much of this year, as historically low interest rates and Australia’s triple-A credit rating have supported riskier currencies.

The local currency has been trading above US92¢ since mid-March and in overnight added 0.13 per cent to US94.12¢.

But it remains short of its 2014 high of US94.9¢, reached at the start of July.

Sources say Ivan Glasenberg’s Glencore, one of the largest producers of primary vanadium in the world, is keen to exert control over the wider vanadium market. Pouncing on Syrah and securing its Balama project would be an early strategic play to shut out fresh competition."

7:15am:Standard & Poor's has ruled that Commonwealth Bank of Australia's credit rating is unaffected by the financial planning scandal.

"At this point in time the ratings on CBA are not affected by the Senate Economic References Committee's inquiry findings and recommendations as they relate to CBA's financial planning business," S&P said.

"At this stage, we believe that it is unlikely that any potential monetary compensation for customers stemming from the program would be sufficiently large enough to affect our view of CBA's standalone credit profile factors."

On Tuesday morning Commonwealth Bank whistleblower Jeff Morris jumped in his car and headed to Canberra for a meeting with the politician at the centre of key decision making on financial planning reforms and a royal commission on the CBA financial planning scandal.

As Morris arrived at Parliament House for his 3.30pm meeting with Finance Minister Mathias Cormann to discuss all things CBA, the opposition was hatching a plan to keep the CBA in the spotlight and entwine it with the government's plans to water down the future of financial advice (FoFA) reforms, amendments that CBA and other banks have lobbied endlessly for.

The CBA scandal has become symbolic of what is wrong in the financial planning industry, specifically the inherent conflicts of planners tied to or working for the banks and the use of sales targets as a key incentive.

The companies look similar: they reach one-quarter of Australia's radio audience each, and both have a market value of more than $750 million.

But their shares prices tell a different story. Since January, APN News & Media shares have soared more than 75 per cent, whereas Southern Cross Austereo – owner of top-40 stations 2Day FM and Fox, and rock station Triple M – is down by more than a third.

Credit Suisse analyst Samantha Carleton has tipped APN to soon lead radio revenues, while Southern Cross Austereo could face a tougher time.

Quotes Search

Collins foods (CKF) making me regretful this week! They've jumped out of nowhere! After holding for so long last FY... sold out for moderate profit instead :(

Commenter

GS

Location

Date and time

July 10, 2014, 1:46PM

STW Group (SGN) paying a nice div soon in Aug!

Total is 6% (franked up to 8.5%)... good acquisition recently too! Brokers have targets 10-30% higher than its current price! NICE!

Commenter

GS

Location

Date and time

July 10, 2014, 1:42PM

strange day on the blogsort of like being in a foglooking for tips for a portfolio mixbut only getting politicsmitch set the patternbut seems to have passed the batonto our resident blog champto give the political rantstill its all good funwhen all's said and done

Commenter

cyril

Location

Date and time

July 10, 2014, 1:21PM

Time to short on banks ? Banks really struggle to go up on current price. Any thoughts ?

Commenter

Malvik

Location

Date and time

July 10, 2014, 1:17PM

Good luck with that, personally I think they are getting ready for another 10%!

Commenter

clive

Location

Date and time

July 10, 2014, 1:22PM

Before you short the banks you should have a talk to the blogger on here who started shorting CBA at $60.

I am sure he would advise you against it!

Commenter

john thomson

Location

Date and time

July 10, 2014, 1:47PM

You are kidding aren't you?

Commenter

which bank?

Location

Date and time

July 10, 2014, 1:49PM

LOL that's what you said when I started shorting FMG for the 3rd time at 3.80. All the way up to $6. Oh and the $60-74 short was closed after CBA plunged back to $65. Sorry.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 2:57PM

Renewable Energy Polyanna's think Crescent Dunes Power Project is Base Load Power station. It only produces 110MW and can supply power for only 10 hours. ROFLMAO

Commenter

Base Load

Location

Date and time

July 10, 2014, 1:14PM

I suppose the nonsense going on in the senate will mean the market will return to the uncertain days of the previous Labor/Green Government.

Was enjoying the ride created by a Government that actually has policies outside of running up debt!

Commenter

nick geronomos

Location

Date and time

July 10, 2014, 1:07PM

Read the Budget. Abolishing the carbon tax wipes out $7bn in gov't revenue pa. Rising unemployment due to gov't cutbacks contracting the economy increases welfare payments and reduces tax collections from lost wages, profits and consumer spending. The deficit is going to increase, not shrink. Don't believe everything Joe Hockey tells you. He trained as a lawyer and knows very little about economics.

Commenter

mitch of ACT

Location

Date and time

July 10, 2014, 1:38PM

Easy to see the bears getting smashed, all they are talking about is politics!

Commenter

Bodacious

Location

Date and time

July 10, 2014, 12:51PM

LOL voted down... stings huh?

Commenter

Angry ant

Location

So angreee

Date and time

July 10, 2014, 1:06PM

Mate my portfolio has a beautiful shade of green, the colour that would make any bear envious. But if it makes you feel better keep with the politics, probably gives you something to do...lol

Commenter

Bodacious

Location

Date and time

July 10, 2014, 1:26PM

1:43 pm - "fat, infertile roosters...."

I thought the New York Post was talking about NY modern liberals ...

Commenter

Dr No

Location

Sydney

Date and time

July 10, 2014, 11:47AM

Also translates to libs here?

Commenter

DR

Location

syd

Date and time

July 10, 2014, 12:43PM

Gawd for a while there I thought they were talking about moi!

Commenter

Red Rooster

Location

Windy City

Date and time

July 10, 2014, 1:46PM

"The government's leader in the Senate Eric Abetz and Environment Minister Greg Hunt are about to do a press conference in the Blue Room at Parliament House.

The holding music for the Blue Room feed is calming and flute-based. With a somewhat bossa nova beat.

Just what we all need right now."

One of the best days in politics in a long long while. LOL

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 11:29AM

Those who care are probably reading and commenting in the federal politics section.

Commenter

Sticks

Location

Date and time

July 10, 2014, 12:03PM

It a shame we don't seem to be able to trust politicians. What on earth is Clive Palmers game & as for Ricky Muir, well Iam unable to print my comment on that thing.lets remember the coalition was voted in & lets get rid of prefernce voting - 1 vote to be counted only for who you vote for.

Commenter

caring Australian

Location

Date and time

July 10, 2014, 1:05PM

Re Credit Suisse on Alumina seeing reduced costs, actual profits and resumed dividends with a $1.60 price target, I note that Citi today released a report predicting declining margins, no dividends and a price target of 90c. Judging from the performance of my AWC shares today, the market is agreeing with Citi. :(

Commenter

Dave

Location

Brisvegas

Date and time

July 10, 2014, 11:27AM

AGO posts record supply beating guidance and goes down all day while XRO yes zero dividends and zero profits goes up. .

Commenter

ASX makes ZERO sense

Location

Sydney

Date and time

July 10, 2014, 11:22AM

cheer up

Commenter

Kleenex

Location

Date and time

July 10, 2014, 12:10PM

You compare a mining company to a software company? No wonder you are confused...

Commenter

DR

Location

syd

Date and time

July 10, 2014, 12:44PM

Yest ASX loses 60 points. ASX up 420 points in almost 5 years loses one seventh of it's gains in one day. Dow lost 100 points or one seventieth of it's gains .Down the same in the GFC and down the same every time since.no upside.. ASX is a joke.

Commenter

Macca

Location

Sydney

Date and time

July 10, 2014, 11:16AM

Tears are filling up and im drowning slowly.

Commenter

Cat

Location

Weasel

Date and time

July 10, 2014, 12:03PM

No point giving you an explanation macca - it would fall on deaf ears. Let's just assume it's all a giant conspiracy.

What a joke. What a sick joke. Etc

Commenter

what a joke. Zero comprehension skills.

Location

what a sick joke.

Date and time

July 10, 2014, 12:26PM

Anthony Albanese: "How's that pledge that you would refuse to talk or negotiate with any cross bench MPs or Senators working out for you, Tony?"

He he.... love it!

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 11:15AM

having a bad day? lol

Commenter

Hugo

Location

Date and time

July 10, 2014, 11:25AM

@Hugo,

Sure, Tony A Corp definitely has a BAD day. More to come . Day trader , watch out...lots of opportunities - up, down up down down Up! LOL

This comment encapsulates it all! You have the temerity to suggest I am the history failure when it is YOU who fails with your historically ludicrous suggestion that The Illiad was SET IN 1500AD. GUFFAW!

I suggest your economic forecasting skills are intertwined with your history skills, that is tantamount to ZERO ability.

Consequently we have nothing to concern ourselves with! The Illiad IS from the Bronze Age!!! Back to school with you! GIVE UP FORECASTING ECONOMIC ARMAGEDDON!

GUFFAW!

HOUSING GLOOM!

Commenter

Herman

Location

Prahran

Date and time

July 10, 2014, 11:09AM

Who said the illiad was 1500AD? The Amsterdam study that points to the housing study wasn't in the bronze age was it sunshine. need a hug?

Commenter

Angry ant

Location

Date and time

July 10, 2014, 11:22AM

Now you know why Al Gore got up on stage with Clive Palmer. LOL.

Double Dissolution? With Tony Abbott close to the most unpopular pm in Australian history me thinks not.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 11:06AM

Carbon tax repeal voted down.

I like it! Good for green jobs, good for the environment and good for Australia's reputation being the highest per capita carbon polluters.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 11:00AM

Day trading view:

ANZ

Approaching BUY level difficult to stay away from because of yield.

Gold

Expect further small rises daily.

BHP

Value there however could take a while to emerge. I have sold.

CCL

Buying cautiously

CMG

Agree today's comments

TLS

Bought last month and expect surge in next 3 weeks simply because of lack of top quality stocks. As stated IMO $6 by year end.

All my opinion and no responsibility taken

Commenter

Harry Rogers

Location

Date and time

July 10, 2014, 10:54AM

Valid opinions, Harry, and I concur. I bought ANZ on 1 July for $32.97 and was going to top-up today when I saw it touch $33.01. Watching it closely today and may buy if it drifts back down or maybe give it another day.

Commenter

Gareth

Location

Sydney

Date and time

July 10, 2014, 11:54AM

what is happening in western economies (and Japan) is not even close to a 1 in a 100 year event. It has not happened in centuries and I would argue human civilisation hasn’t experienced the sort of monetary conditions we now bear witness to, since the Bronze Age"

The latest archaeological evidence suggests Stonehenge served no religious purpose at all for the ancient Britons. In actual fact it was the meeting place of ancient Brittany's central bankers, where monetary policy was determined for the Isles! Back then , though, they ignored economic conditions back on the European continent!

Hmmmm.... to raise rates or leave them unchanged? The perennial question.

LARGE GUFFAW!!!

Housing GLOOM!

Commenter

Herman

Location

Prahran

Date and time

July 10, 2014, 10:37AM

After reading this Im ay actually go back and audit that procedure for the boss.I now realise there is far far worse dribble out there to put me to sleep.

Commenter

Angry

Location

Auditor

Date and time

July 10, 2014, 10:51AM

So recently I was looking at a career change into financial planning after seeing some of the dubious advice my friends had paid insane amounts of money for (late 20s early 30s) and some of my parents friends had lost all their money to a: bad advice; and b: ongoing fraud on the part of the financial planner in SMSF. With a university degree in accounting and finance graduating on the deans honours roll, I have been variously described as 'too intelligent' and, in a email mistakingly forwarded to me by a firm discussing who to appoint, described as an 'excellent candidate, but I think his concern for the client and honesty means he would be unable to drive growth in the business.' HAHAHAHA. This from a company advertises 'we put your interests before our own.' Smirk. Parents got a letter from ASIC saying their former financial planning firm had had their license suspended after finding they had used internally driven models to provide advice which benefitted the firm rather than providing advice based on the clients need. Sister, a very rich doctor, described her visit to her CBA financial planner recently as a 'sales pitch' and walked away disgusted, and will take $1mil + in loans away from them. In 20+ interviews, the only thing I realised was I wouldn't have put any money with any of them.

Commenter

Dave

Location

Brisvegas

Date and time

July 10, 2014, 10:24AM

Brilliant

Commenter

TheCurse

Location

Sydney

Date and time

July 10, 2014, 10:57AM

Salt, everywhere.

Commenter

DR

Location

syd

Date and time

July 10, 2014, 11:08AM

With a university degree in accounting and finance does not make you a good punter , except you are good in card counting, but then you get banned at the casino anyway, and yes, I wonder a lot of times how people can earn 1oo'ds of 1000'ds and have no clue what to to with it

Commenter

no clue

Location

brisbane

Date and time

July 10, 2014, 11:17AM

Story time!

Commenter

F@#$ Yeah

Location

Date and time

July 10, 2014, 11:40AM

Does anyone know why AMC shares have fallen by so much today?

Commenter

Joe

Location

Date and time

July 10, 2014, 10:18AM

Does anyone know about FTH. 20cents in May now 5.33.

Commenter

Dave M

Location

Sydney

Date and time

July 10, 2014, 10:12AM

One trade today up 1.06 or 20%. What is going on there.

Commenter

Peter

Location

Sydney

Date and time

July 10, 2014, 11:10AM

That chart is crazy....although not much volume..

Commenter

Wwwish Lion

Location

Melbourne

Date and time

July 10, 2014, 11:35AM

Spi futures spent 13 hours going up from 9.00pm to 10.00 am and within 1 min 10.09.49 to 10.10.48 managed to lose the lot. What happens to the ASX at 10.10 ??????? Computers ( Big ones is my guess ripping the fork out of the poor little punter.

Commenter

Bill

Location

Sydney

Date and time

July 10, 2014, 10:10AM

Today's headline probably reflects where the real value is in the market if you have the stomach for the risk. Many small miners at very good prices, just need to pick the right ones and preferably one the Chinese would like to own too. I have one that is going gangbusters at the moment and am thinking it is a definite takeover target which is also supported by a M@A analyst.

Not game enough to name the little champ for fear of the Mitch effect on its price if I do!

Commenter

cyril

Location

Date and time

July 10, 2014, 9:42AM

TON

Commenter

?

Location

Date and time

July 10, 2014, 10:17AM

Brilliant article from Nick Hanauer (internet billionaire) on why the minimum wage should be elevated and why the middle class spending is the key : http://tinyurl.com/ondx787

Commenter

Observer

Location

Sydney

Date and time

July 10, 2014, 9:26AM

Doesn't that fly directly into the face of Liberal policy and the thrust of the Budget. They just don't seem to realize that the more people have to spend, the healthier the economy and the higher tax collections are.

Commenter

mitch of ACT

Location

Date and time

July 10, 2014, 9:35AM

In a globalised world where international trade is cheap and almost duty-free, the minimum wage needs to be set in relation to the composition of your work-force. A high minimum wage will acutely affect the low-skilled strata of your population, and possibly deem them to a future of no employment.

We can see this phenomenon happening in for example Scandinavia. These countries used to have a highly educated and efficient work force and were quick to jump on the globalising free-trading bandwagon, which allowed them to set high minimum wages. But because of their large immigration of low-skilled and under-educated populations they will now have to lower their minimum wage or face disastrous consequences.

Commenter

Dr No

Location

Sydney

Date and time

July 10, 2014, 10:05AM

Spend spend spend hey Mitch. That is literally all the Labor governments know how to do. That's why they got booted out of government. Because they couldn't responsibility manage the government's finances. Historically they have shown to do this again, again and again.

Commenter

SI

Location

Date and time

July 10, 2014, 10:15AM

Dont forget he is saying the US should raise the minimum wage to $15 US...or about 40 cents less than our minimum wage, so we have dont it already, we can pat ourself on the back and feel good and go about making more money now.

Commenter

Wwwish Lion

Location

Melbourne

Date and time

July 10, 2014, 10:29AM

@SI, read up on what contributed to the Great Depression causing world-wide economic misery that lasted 10 years, facilitated Hitler's rise to power and ended only with the start of WW2. Then perhaps you might realise why l;abor was advised by Treasury, the RBA & independent economists to spend, spend, spend in response to the GFC. If even just basic economics was taught in schools Abbott & co would have gotten nowhere near the gov't benches but would have instead been laughed off the election hustings..

Commenter

mitch of ACT

Location

Date and time

July 10, 2014, 11:58AM

Thanks for providing a bit of context Lion. In Mitch's utopia nobody would pay tax and everybody would just live off the same amount of welfare.....and the ALP, unions and the unemployed would rule the world.

Commenter

Sticks

Location

Date and time

July 10, 2014, 12:09PM

"Swiss commodities giant Glencore is understood to have made an informal approach to Syrah Resources that could value the graphite and vanadium junior at up to $2 billion"

Maybe they should pay their taxes instead.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:25AM

If the govt got 30% tax out of Glencore, Apple, Amazon, Google (the supposed pillars of the future mining and software ) then they could easily balance the budget. Or just collect the FBT rort for leasing foreign luxury cars ! The age of entitlement continues for the big corporates.

Commenter

Go for the Entitled companies

Location

Date and time

July 10, 2014, 10:39AM

comment @11.14 am

Bring on the interest rate cut, make it 50 basis points while you are at it Glenn.

Only way to get the Aussie down, been telling you for months on end!

Commenter

Xenaphon

Location

Date and time

July 10, 2014, 9:22AM

MMS heading back to four year lows. Salary "packaging" - what a rort.

With all the saving measures getting blown up in the Senate maybe Tony the Tory will abolish the two biggest salary packaging rorts - novated leases and $30K gross up tax exemptions for NFP staff and their unlimited tax deductible meals.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:18AM

Four years ago MMS was about $4.70.

Commenter

TP

Location

Date and time

July 10, 2014, 10:55AM

SBM having a blinder, up 8.7%, another gift.

I like it!

Commenter

Mister 100%

Location

Date and time

July 10, 2014, 9:18AM

oh dear.

Commenter

Cat

Location

Weasel

Date and time

July 10, 2014, 10:23AM

"We are not afraid of China"

Julie Bishop forgetting which side her bread is buttered on.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:08AM

"“In 500 years, Dutch interest rates have never been lower."

How appropriate especially since the study of property price increases over the longest period is also over hundreds of years in Amsterdam. That study proved that real property prices increase at less than 1% pa.

"what is happening in western economies (and Japan) is not even close to a 1 in a 100 year event. It has not happened in centuries and I would argue human civilisation hasn’t experienced the sort of monetary conditions we now bear witness to, since the Bronze Age. How and when it all ends, no honest person knows. But I strongly suspect that when it ends, it will end badly."

Housing boom!

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:04AM

@Allan, 500 years ago there was more available land and a lot lower human population...Supply...Demand...but its a good story of yours

Commenter

Wwwish Lion

Location

Melbourne

Date and time

July 10, 2014, 9:14AM

Good point Allan - we must understand that there is a big risk - though not inevitable - that the 500 year civilisational boom that started with the renaissance will come to an end now. It starts with the financials but it won't end there.

The crazy financial policies we have are just the symptom of a greater malaise. So sound money policies alone won't solve it, but if we're even to begin digging ourselves out of this we've got to stop printing money, stop borrowing money, stop the artificially low interest rates and the fiscal stimulus, stop the waste, stop the bureaucracy, stop the entitlements, stop the welfare, etc. and then maybe we'll get through this.

Commenter

Dr No

Location

Sydney

Date and time

July 10, 2014, 9:15AM

Oh dear, I thought it was obvious but that study is over 500 years to today not about 500 years ago. And now we have towers of flats, floorspace from thin air.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:20AM

even with the lowest rates in 500 years I still couldnt quite afford to live in the 9 streets district of amsterdam. and boy would I love to live there.

Commenter

smilingjack

Location

Date and time

July 10, 2014, 9:25AM

Oh and that study was in central Amsterdam where according to spruikers prices should have gone up at 7% pa not less than 1%. The house in the study should be $10 billion by now.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:27AM

Wow there was monetary policy in the bronze age!!!!!!!!!!!!! THAT IS AN ABSOLUTE BEAUTY! THE FUNNIEST THING I'VE EVER READ! Did anyone tell Homer? Perhaps the reason Achilles was so pissed was because the Trojans were charging him exorbitant interest on his 30 year mortgage for his palace back in Greece!

GUFFAW!

Housing GLOOM!

Commenter

Herman

Location

Prahran

Date and time

July 10, 2014, 10:03AM

Do you think the Trojans were charging the Greeks 5.25 % interest p.a back in the bronze age, or was it closer to 5.5%.

LARGE GUFFAW!

HOUSING GLOOM!

Commenter

Herman

Location

Prahran

Date and time

July 10, 2014, 10:06AM

"@Allan, 500 years ago there was more available land and a lot lower human population...Supply...Demand...but its a good story of yours."

Really Wish? They had modern transportation and communications like trains, cars planes that opened up vast tracts of land to development in the pre industrial era.

Stick to stock picking mate.

Commenter

Catch 22

Location

Rent Seekers Wwishful thinking

Date and time

July 10, 2014, 10:18AM

The Bronze Age was 3000-1200BC, not 1500AD.

Commenter

History fail

Location

Taylor's Lakes

Date and time

July 10, 2014, 10:33AM

50" TV's now < $490 from online retailers and now using less than an old incandescent bulb in power.

High street, high rent, high markup retail is dead and coal burning electricity is heading is in a death spiral.

Two industries we can do without.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 8:59AM

Eds - suggestion - when posting upcoming announcements (i.e.ABS Labour Force or Japanese PPI today) a time for the announcement would be helpful if it occurs within the trading day. (i.e. Interest rates usually @ 2.30 pm)Thanks

Commenter

Timing

Location

Date and time

July 10, 2014, 8:58AM

10 bagger in the making? Discovery Metals DML have made a few very positive announcements of late and tomorrow are due to announce the final stage of re-finance deal. With Cu price up the sky is the limit if this producer can turn itself around.

Commenter

happy Hippy

Location

Date and time

July 10, 2014, 8:51AM

@happy hippy, I like your thinking tomorrow is the big day, refinancing and its to the moon.

Commenter

Gambler

Location

Date and time

July 10, 2014, 8:57AM

Sounds risky too me, how many units have you bought and what price?

Commenter

sad sack

Location

Date and time

July 10, 2014, 8:59AM

300,000 @ 0.038. Have been in for a while.

Commenter

happy Hippy

Location

Date and time

July 10, 2014, 9:46AM

good bet, hope it keeps going for you

Commenter

sad sack

Location

Date and time

July 10, 2014, 10:25AM

"Melbourne rents rise as potential buyers bow out.It is becoming harder to rent a unit in Melbourne, with rents rising for the second consecutive quarter, a new report has found. But some tenants will be feeling the sting more than others.

The median weekly asking rent for units has increased 1.4 per cent to $370, while house rents have remained flat at $380, according to Domain's Australian Property Monitors June Quarter Rental Report released on Thursday.

The senior economist from Domain Group Andrew Wilson attributes the increase to the low number of first home buyers in the local market and strong population growth.

Unit renters in the inner east felt the biggest sting with rents rising by 2.8 per cent, followed by the south east with 1.8 per cent."

HOUSING DOOM!

Commenter

Herman

Location

Prahran

Date and time

July 10, 2014, 8:31AM

"house rents have remained flat at $380"

And apartment rents have only ticked up because of the number of brand new blocks of flats popping up like mushrooms. They drop pretty quick once they shine has rubbed off.

Housing boom!

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 8:55AM

Strange that you can rent a house for $10 more a week in Melbourne opposed to a unit. Doesn't sound right.

Commenter

DR

Location

syd

Date and time

July 10, 2014, 9:05AM

@DR most apartments are inner city, whereas the houses for rent are outer burbs...

Commenter

Wwwish Lion

Location

Melbourne

Date and time

July 10, 2014, 9:11AM

What kind of person invests $500k to make $380 a week before expenses? LOL

Commenter

Justin Credible

Location

Date and time

July 10, 2014, 9:12AM

Yeah I'll go with the official stats from the ABS rather from real estate industry insiders.

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 9:13AM

"The median weekly asking rent for units has increased 1.4 per cent to $370"

So it went up from $365 to $370. Wow that extra $5 a week will sure come in handy. LOL

I wonder how much strata/property management fees have gone up?

Commenter

fortune cookie

Location

Date and time

July 10, 2014, 9:38AM

Well, my weekly rental has gone up once over a four year period and that was by a total of..... wait for it........$10............adjust that for inflation and I'd say it's actually getting cheaper for me to live there!

Commenter

Armitage Shanks

Location

Melbourne

Date and time

July 10, 2014, 9:43AM

@ Justin credible. I don't think they invest $500k? Are you ignorant with rage? Your argument should be that a loan for $500k with $385 would leave investor negatively geared, with backside hanging out on a $450K loan. Its the risk porportional to the loan. He/she probably has invested $50-60k. He stands to get locked into loan if value plummets or gets out at a loss of his $50-60K, but not $500k.

Commenter

Edu

Location

Date and time

July 10, 2014, 9:47AM

Or gets margin called, can't cover the capital loss to restore his lvr and loses $150K.

Housing boom!

Commenter

Allan

Location

Prahran

Date and time

July 10, 2014, 10:25AM

Negative gearing supports the unproductive real estate industry and prevents FHBs. Most goes to the highest earners as well. Tax the poor and give to the rich. Way to go for a productive economy. Or you could look at Germany, which has long term rent, no housing boom,. and the most high tech productive economy in the world.

Commenter

Go for the Entitled negative gearers

Location

Date and time

July 10, 2014, 10:43AM

Close my Navitas position for an easy 5.3% :)

Was way oversold yesterday!

Commenter

GS

Location

Date and time

July 10, 2014, 8:21AM

CMG - Another share i quite like. 10% dividend and PE of 12.5!!!It has a nicely boxed in chart. Ready for breakout?Dividend coming up in early September.